forexgreenland
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Thanx for the response, Forexgreenland. Looks like
I'm in the wrong forum.
I googled "uptick rule" and every search result was in a language that I don't understand.
They don't allow short-selling with IRA money. They also won't allow day-trading. Ah,
according to Investopedia, the uptick rule was eliminated June 6, 2007.
There are lots of equities just lying on the floor at bargain prices, just bubbling
sideways. Good for some profits sometime in the future, but not doing anything right now. It
looks like Forex is always active. (I know nothing about this market. Looks tricky).
I liked your zen-oriented description of the trader's frame-of-mind in your opening post in
this thread. I'm still in the first stage with some forays into the second. It is an
interesting journey.
Hi art,
I feel your pain...the languages coming out from those search engines on uptick rule were
kind of like finance hieroglyphics...since it had been eliminated since 2007, no worries..
yes, forex is always active with lots of volatility, but it only looks tricky when you are
not that familiar with the market.. Warren Buffet was right when he was quoted as saying
''Risk comes from not knowing what you are doing''..but you can still learn the ropes if you
are willing and committed..
Well, you dont really have to be a Zen Master, or a Yogi master, or Shaolin Master, or even
a Shambala Master, before getting ''in the flow''.. Just let yourself go..
''A journey of a Thousand Miles Begins With A Single Step..
Oil prices follow Wall Street on wild ride - Yahoo! News
As an American who has most of their savings in sterling, I've got one
word to sum up what I feel right now.
F*%K!!
Me too, barbs...I feel ya...
Ohh, by the way, lemme wish you Americans a Happy Thanksgiving Day in advance..Did I hear
someone say Turkey Day?
[10:09:20] Stalion : so we put a buy stop on gu at 1.4970...1st
target at 1 5025..2nd target at 1.5080...sl 50 pips away...
What is happening? usd was sold accross the board (except agains yen)
by more than 200 pips in one hour or so. Can any body explain?
No probs, mon ami..The pound was battered after the Bank of England said on Wednesday the British economy would shrink sharply next year, bolstering expectations that further sharp cuts in interest rates were in the pipeline.Lower interests rates means lower value of the currency due to
investors selling the low yield currency to buy higher yielding currencies.. That would
bring about a downward sell pressure on the gbpusd.
I need to purchase 1000 GBP to pay a debt in the UK, and have
been trying to keep an eye on the exchange rate (as I'll have to buy the 1000 GBP with USDs
- I'm a US citizen and am paid in USDs )
Can you experts offer me suggestions around when I should buy the GBPs? I must have them by
end-of-month December 2008, but am not sure how to get a good idea (forecasting and such) as
to when between now and 31st Dec 2008 would be the best time to exchange USDs for GBPs.
Any help that you can offer if VERY much appreciated!!
Thanks!!
Mark
Hi markdaniel,any relations with mark anthony??LOL..
You've just boiled it down to a simple question..What is meaning of forex?
It is the buying and selling of international currencies..I think you might need a cup of
coffee for this..
For example, 1 GBPUSD is equivalent to 1.4700 dollars..1000 GBP is equivalent to 1470
dollars USD..that is, at the international rate of 1.4700...You are using 1470 dollars to
buy 1000 pounds sterling..
But wait...The current fundamentals suggest Britain is in the throes of recession, while the
BOE is about to further slash interest rates in the nearest future..Low interest rates from
bad economic recessionary data spewing forth from the UK is likely to pull the T-strings of
cable down south..wow..
Technical analysis wise, price have fallen way beyond the 60% BUY WINDOW on the monthly
charts,with 4 long range bearish candles going ballistic underground.. Both MACD divergences
foretells bearish movement of price on the GBPUSD..A Category Four Trendline has already
taken place..
so come December, price getting to our projected target point of 1.3090, , you BUY 1000GBP
for $1,309 dollars..since the GBP would have likely lost more value in the weeks to come..Does that mean we might be seeing a dollar rally before the end of the year 2008? Of course..just got ma fingers crossed..
I hope you now understand..
Remember, nothing is cast in stone on forex...and in life...Also do your own research before
taking any recommendations...Feel free to discuss it here..
sorry guys, that I forgot to alert you due to internet blackout in my zone..more than 300
pips,$300 minilot,$3000 standard lot was made on the sell stop of gbpusd wednesday
afternoon.., which offsetted our previous double buy stop loss of 50 pips each..making back
more than 3 times our previous loss...Well,what can I say..